According to a recent press report Union Bank of India increased its base rate by 50 basis points to 10.75 per cent. Union Bank of India (UBI) is one of India’s largest state-owned banks that are listed on the Forbes 2000. It has assets of USD 13.45 billion and all the bank’s branches have been… Read More »
A recent press report said that Tamilnad Mercantile Bank (TMB) Limited has opened its 241st branch at Sathankulam in Thoothukudi district in south Tamil Nadu. Mr. A.K. Jagannathan, Managing Director and CEO of the bank, presided over the inaugural function. Dr. T. Aasirvatham Manoharan, Yesumani Clinic, Sathankulam, opened the new branch. Tamilnad Mercantile Bank limited… Read More »
A recent press report said that TMB Bank has put Mr. Paphon Mangkhalathanakun in charge of its new loan portfolio, targeting small businesses working in the supply chains of large companies. Mr. Paphon Mangkhalathanakun said that the bank is looking for growth in the supply-chain business. Reports said that the bank’s SME loan portfolio has… Read More »
A recent press report said that State Bank of India, exceeding RBI’s limit on exposure to single borrower has sanctioned loans to corporates such as RIL, IOC, Tatas and HDFC in the past three financial years. Reports also said that Bank of India also has gone past the Reserve Bank’s limit in the last two… Read More »
A recent press report said that State Bank of India has announced that it had no plans to take a cue from rival ICICI Bank and devise a dual rate home loan scheme. Mr. Pratip Chaudhuri, chairman, SBI, said that the bank has no plans at present to introduce a dual rate home loan. Reports… Read More »
A recent press report said that Regional rural banks (RRBs) may need more time to shift entirely to core banking solutions (CBS) than that allotted by the RBI. The deadline to adopt core banking solution is set to expire at the end of September. Mr. R. Khan, Deputy Governor, Reserve Bank of India (RBI) said… Read More »
A recent press report said that the Reserve Bank of India has made up a committee on priority sector under the Chairmanship of Mr. M V Nair, Chairman & Managing Director of Union Bank of India. The RBI has set up a committee to reexamine the existing classification and suggest revised guidelines with regard to… Read More »
A recent press report said that the recent policy rate hike by regulator Reserve Bank of India will lead to rush in loan rates by various lenders. Reports said that major lenders like Punjab National Bank, Bank of Baroda (BOB), IDBI Bank and Oriental Bank of Commerce (OBC) have already raised their base rate to… Read More »
A recent press report said that ICICI Bank has announced the launch of fixed interest rate product for home loans. According to the scheme a customer can get a home loan at a fixed interest rate valid for a period of one or two years, after which the loan will move to floating interest rate. … Read More »
A recent press report said that a scheme of home loans for state government employees, a joint initiative of the state government and Central Bank of India has been launched. Mr. Nitish Kumar, Chief Minister of Bihar who spoke at the function organised for the launch said that if the bankers fully cooperate, then corruption… Read More »